BioImage raises more funding
BioImage, an emerging drug discovery company, has raised €15.2m (US$13.4m) in a second round of funding. The main investors are Apax partners, Abingworth Management and a new investor, the Danish company Novo.
The capital raised will be used for exploiting the company's unique technologies in cell-based screening and continued drug discovery effort focused on identifying more selective drug candidates within a number of therapeutic areas, including specific signalling pathways.
Dr Patrik Dahlen, the newly appointed ceo, said: 'BioImage has an enormous scientific and commercial opportunity to create new drug candidates through our ability to monitor intracellular events and protein translocation in real time.
'Redistribution, BioImage's visualisation and measurement of protein translocation technology, is now widely recognised in the industry. Using this novel technology we have already generated early drug candidates with a new mode of action.'